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What is an IP address?

An Internet Protocol (IP) address is a unique logical numeric address that identifies every device - network node(single computer, printer, switch, router, etc.) that is part of a TCP/IP-based network. The concept is similar to addresses in a town or city as the IP address gives the network node an address so that it can communicate with other nodes or networks, just like mail is sent to friends and relatives.

There are IP addresses are used by the whole Internet (external IP), and only used by locally (internal IP, (Local Area Network - LAN IP) when you are using a router for example).

The situation is a bit easier with local addresses (for example computer, printer, smartTV connected to the router), the router/switch assigns internal - Private IPs.

As for external - Public IPs (World Area Network - WAN IP on the external interface), it is a bit more complex: the Internet Service Provider (ISP) assigns the external IPs to devices. It might be nice if every device had its own IP address, it is unfortunately not possible as network devices come and go frequently - millions are added,
removed, or rearranged every day. It would be impossible for everyone in
the world to keep up with the changes. Another reason that local
networks use their own addresses is that the Internet ran out of
"regular" IP addresses long ago.